Cement News tagged under: India
Jaiprakash may not meet asset sale target – Kim Eng05 December 2012, Published under Cement NewsJaiprakash Associates may not meet its target of raising INR50bn via a sale of its plants in Gujarat and Andhra Pradesh states, according to analysis by Asian securities and investment broker Kim Eng. Jaiprakash on Monday said buyers are showing interest in its Gujarat plant only and not its Andhra Pradesh plant. It also denied media reports that said it had sold its 5Mt capacity Gujarat cement plant to UltraTech Cement at a valuation of US$180/t. The company however says that it is sti... |
Lucky Cement not to build cement plant in India04 December 2012, Published under Cement NewsPakistan’s leading cement manufacturer and exporter Lucky Cement Ltd has officially informed the Karachi Stock Exchange (KSE) that it is not establishing a cement plant in India. The company is, however, proceeding as planned with two new overseas ventures. The official note by Muhammad Suhail, company secretary of Lucky Cement to the KSE stated: “We would like to clarify that our company (Lucky) has neither decided nor planned to set up any cement plant in India.” Local media repor... |
Dalmia Cement buys additional stake in Calcom04 December 2012, Published under Cement NewsDalmia Bharat Enterprises has informed the Bombay Stock Exchange that its subsidiary, Dalmia Cement (Bharat) has approved acquisition of additional 26 per cent stake in Calcom Cement for a consideration of INR77.16 crore. A share purchase agreement to this effect was signed on Friday. This consideration will be paid in multiple tranches and will be subject to the adjustments and other terms and conditions set out in the definitive agreements. |
UltraTech Cement eyes Jaypee's Gujarat operations03 December 2012, Published under Cement NewsIndia's largest cement producer UltraTech Cement is understood to be in talks with Jaypee Group for the latter's business in Ahmedabad, Gujarat. Local press have reported that the deal is valued at around US$700-890m and is likely to close by year-end. Jaypee's Gujarat operations have a capacity of 4.8Mta. The company also has cement assets in Andhra Pradesh. The proceeds received by Jaypee would be used in part to meet capacity expansion and retire debt. CRH had also been in negotiati... |
India sees weak November pricing environment03 December 2012, Published under Cement NewsIndian cement prices saw corrections in most regions in November, with the central, eastern and northern areas witnessing the steepest falls, the Economic Times of India reports. Cement prices traditionally pick-up following the monsoon season and October saw a slight improvement in prices nationwide with the same was expected in November. However, bleak demand in Kolkata led to a correction in prices of INR12 to INR350/bag (US$6.41) which was lower than the peak price of INR390/bag. Price... |
RINL to pursue grinding project, India03 December 2012, Published under Cement NewsState-owned steel maker Rashtriya Ispat Nigam Ltd (RINL) is set to proceed with a joint venture cement grinding unit, to make use of the slag generated by blast furnaces and fly ash, according to sources. The company has allocated 100 acres for the project and appointed a senior official and other staff to push it through. The company will set up the 3Mta grinding unit as a joint venture in which it will have a 36 per cent equity stake although a partner has not been identified yet. The ... |
Udaypur Cement halts production, India30 November 2012, Published under Cement NewsThe Udaypur Cement factory in India has halted operations since last week because coal deliveries have been stopped, according to local press reports. The Himalayan newspaper has reported that the shutdown occurred after importers stopped supplying coal over late payments. Mona Lisa Enterprises and Divyashree Construction Service, the two coal importers for the industry, said they had stopped providing coal as they were yet to receive INR20m in payments. Meanwhile, the factory’s Seni... |
Udaipur Cement Works appoints additional director, India27 November 2012, Published under Cement NewsUdaipur Cement Works has informed that Ganpat Singh has been appointed as an additional director on the board of directors of the company with effective from 1 November 2012. |
India imposes export barrier for Pakistani cement26 November 2012, Published under Cement NewsIndia has made cement exports subject to a performance bank guarantee of US$10,000 to be supplied by exporters. In a letter issued by the Bureau of Indian Standards (BIS) to all foreign cement manufacturers, said cement exporters would have to submit this guarantee to qualify for exporting cement to the country. The move has not been welcomed in Pakistan which sees it as another nontariff barrier imposed by India to restrict its cement exports despite Pakistan to have accorded the most... |
Lucky Cement plans Indian plant23 November 2012, Published under Cement NewsPakistani cement producer Lucky Cement has expressed interest in establishing a manufacturing plant in India. “Currently, Lucky Cement is contemplating having a direct presence in India once it has achieved key understanding of the Indian market and the opportunities it may offer,” said a spokesperson. “At present, Lucky Cement is seeking guidance both from the Pakistan and Indian government authorities on the existing FDI policy.” If it is realised the investment would be a modest bu... |